* First asset sale in Petrobras five-year investment plan
SAO PAULO Nov 26 Brazil's state-led oil company
Petrobras agreed to sell its 40 percent stake in an
offshore Santos Basin concession to OGX Petróleo e Gás
Participações SA for $270 million, according to a
securities filing on Monday.
The deal, which requires regulatory approval, is the first
asset sale by Petrobras as part of efforts to fund its $237
billion, five-year investment plan, the world's largest
corporate spending program.
"We're very happy with this acquisition, which shows OGX is
attentive to business opportunities in Brazil," said Luiz
Carneiro, chief executive of OGX, which is controlled by
billionaire Eike Batista.
Last week OGX, Brazil's second largest oil company by market
value, issued a securities filing denying press reports that it
was in negotiations to sell a 25 percent stake in its offshore
leases in the Campos Basin.
Queiroz Galvão Exploração e Produção SA will remain the
operator for the newly acquired Santos Basin bloc. Queiroz
Galvão and Barra Energia do Brasil Petróleo e Gás Ltda each hold
30 percent stakes in the concession, which includes the Atlanta
and Oliva fields.